BitGo Trust Company Inc., a pioneer in digital asset trust and security, has announced its induction into the Hedera Council. This move marks a pivotal moment for both organizations, underscoring a shared commitment to innovation and the future success of the Hedera network.
Mike Belshe, CEO of BitGo, emphasized the company’s commitment to fostering enterprise adoption of Web3 technologies. He highlighted Hedera’s innovative tools and network capabilities as key drivers for this adoption, expressing enthusiasm for supporting and accelerating Hedera’s growth trajectory.
Founded in 2013, BitGo has established itself as a leader in the digital asset space, serving over 1500 clients across 50 countries. The company is renowned for its secure hot wallets and regulated custodial cold wallets, offering a comprehensive platform that caters to the needs of institutional clients.
BitGo’s expertise in providing institutional-grade security for digital assets is unparalleled, supporting a wide array of clients including Fortune 100 companies, crypto exchanges, and government entities.
BitGo’s involvement with Hedera predates this announcement. The company has already invested considerable resources in integrating wallet-as-a-service and qualified custody support for the Hedera Token Service (HTS). Additionally, BitGo operates six mirror nodes on Hedera’s proof-of-stake network, demonstrating its deep technical integration and support for Hedera’s infrastructure.
By becoming the 32nd member of the Hedera Council, BitGo joins a diverse and robust group of organizations dedicated to the network’s innovation, stability, and decentralization. Council members play a crucial role in guiding Hedera’s development, each holding an equal vote on the network’s direction. This collaborative approach ensures that Hedera remains at the forefront of blockchain innovation, with a focus on creating scalable, secure, and sustainable solutions for enterprises.
BitGo’s partnership with Hedera extends beyond council membership. The company plans to explore future opportunities to expand its offerings, including support for the Go Network, BitGo’s real-time settlement network for USD and digital assets. This collaboration signifies a strategic effort to enhance the utility and accessibility of blockchain technology for institutional clients, paving the way for broader adoption of digital assets.
Bill Miller, Chair of the Membership Committee for Hedera, lauded BitGo’s extensive experience in product development, governance, and regulatory compliance. He noted that BitGo’s expertise would be invaluable to the Hedera Council and the broader ecosystem, aligning with Hedera’s vision for security, scalability, and sustainability.
Read Also: BitGo Raises $100M in Series C Funding Amidst Soaring Demand for Regulated Custody Solutions
